As Europe works to prop up Spain’s wobbling banks, its leaders still face a problem that plagues the Continent’s increasingly vulnerable financial institutions — a longstanding addiction to the borrowed money that provides the day-to-day financing they need to survive.
As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money, the New York Times reports.
The European bailout of 130 billion euros ($163.4 billion) that was supposed to buy time for Greece is mainly servicing only the interest on the country’s debt — while the Greek economy continues to struggle, the New York Times reports.
Whether it’s wealthy French or Americans fleeing the prospect of higher taxes or wealthy Russians and Chinese trying to escape political uncertainty, millionaires and billionaires around the world are migrating like never before, according to government statistics and relocation experts.
French President, Francois Hollande has cast himself as the European leader pushing hardest to forge a growth-oriented “new path” through the euro zone’s grinding debt crisis, pitting him against the austerity-minded German Chancellor Angela Merkel, the New York Times reports.
Despite efforts at official reassurance, no one really knows the consequences of a Greek exit from the euro zone, or how rapidly big countries like Spain and Italy, and their banks, will feel the effects, The New York Times reports.
Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America.
German lawmakers likely will delay a vote on the euro zone's fiscal compact on budget discipline because the country's main opposition party wants to insert growth-focused measures into the pact, a coalition source told CNBC.
Just weeks ago, the idea that Greece would leave the euro zone was almost unthinkable. Now, with Greece’s newly empowered political parties refusing to abide by the terms of the country’s international loan agreement and Europe’s leaders talking tough, that outcome is looking increasingly likely. The NYT reports.
Manufacturing reports suggest Europe could slide into recession without the rest of the world, creating fallout for the euro.
The ECB might help the periphery by holding rates as low as it can, even if it risks something that might resemble a reflationary boom for the core.
Directors often dole out personal safety perks to ease a chief executive’s tax bill. By classifying the benefits as security measures, the executives typically get a better tax treatment on the services. It’s a common corporate tax trick. The New York Times reports.
The end of the world is getting to be quite popular. Where would you go to "bug out?" Check out some stylish and genteel ways to hide from to possible future widespread problems.
When Lehman Brothers collapsed at the height of the financial crisis, JPMorgan Chase was at the center of the storm. The bank was a major lender to the firm, which filed the biggest bankruptcy in United States history. The NYT reports.
Mitt Romney sought to use the coveted endorsement of Jeb Bush on Wednesday to amplify his call for Republicans to rally behind his candidacy and get on with the mission of ousting President Obama. The NYT reports.
Swiss services group DKSH said demand for its IPO was "exceptionally high" as it priced its public offering at 48 Swiss francs ($52.6) a share - the uppermost point of its previously guided 46-48 francs share price range.
Banks will face stiff penalties and intense public scrutiny if they fail to live up to the standards of a $25 billion mortgage settlement with state and federal authorities, according to court documents filed as part of the deal Monday in federal court in Washington. The NYT reports.
As the world’s biggest watch a jewelry fair opens its doors to 100,000 visitors in the Swiss town of Basel on Thursday, chiefs from some of the most exclusive luxury brands told CNBC they were optimistic about 2012.
A lead adviser to Greece on its debt deal, Mitu Gulati, argues that instead of repeated austerity-based bailouts, other European countries should cut a deal directly with their creditors to reduce their debt loads.
China's dollar reserves drop, and U.S. economic data awaits - it's time for your FX Fix.